Question
answer the following 5 questions please Q1. A policymaker claims that tax cuts led the economy out of a recession. Can we use the AD/AS
answer the following 5 questions please
Q1. A policymaker claims that tax cuts led the economy out of a recession. Can we use the AD/AS diagram to show this?
Q2. How is recession illustrated in an AD/AS model?
Q3. Why would an economist choose either the neoclassical perspective or the Keynesian perspective, but not both?
Q4. What impact would a decrease in the size of the labor force have on GDP and the price level according to the AD/AS model?
Q5. Suppose the Federal Reserve begins to increase the Supply of money at an increasing rate. What impact would that have on GDP, unemployment, and inflation?
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